Compare Eightcap vs WorldForex
What is Eightcap? What is WorldForex?
Eightcap is a multi-regulated broker that was founded in 2009 and is headquartered in Melbourne, Australia. It offers over 800 trading instruments, including forex, indices, shares, commodities, and cryptocurrencies, on the MetaTrader 4, MetaTrader 5, and TradingView platforms. It also supports algorithmic trading, social trading, and code-free automation with Capitalise.ai.
WorldForex is an online broker that was established in 2007 and is registered in Vanuatu. It offers over 600 trading instruments, including forex, indices, shares, commodities, and cryptocurrencies, on the MetaTrader 4 platform. It also provides a web-based platform and a mobile app for trading.
Best Forex Brokers Ranking
| Rank | Broker | Review | Open Account | Bonus | Platform | Minimum Deposit | ECN |
|---|---|---|---|---|---|---|---|
| 1 | Exness |  | Open Exness account | 16$/lot | MT4, MT5, Exness, ... | 1$ | 10$ |
| 2 | IC Markets | | Open IC Markets account | - | MT4, MT5, cTrader | 200$ | 200$ |
| 3 | XM | | Open XM account | 30$ | MT4, MT5 | 5$ | - |
| 4 | XTB | | Open XTB account | 2000$ | MT4, xStation 5 | 1$ | 1$ |
| 5 | FBS | | Open FBS account | 140$ | MT4, MT5, FBS Trader | 1$ | 1000$ |
Eightcap vs WorldForex Regulation Comparison
Eightcap is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Securities Commission of The Bahamas (SCB). It also holds a membership with the Financial Commission, an independent dispute resolution organization.
WorldForex is regulated by the Vanuatu Financial Services Commission (VFSC), which is considered a low-trust offshore regulator. It does not have any other licenses or memberships with reputable authorities or organizations.
Eightcap vs WorldForex Trading Assets Comparison
Eightcap offers a wider range of trading assets than WorldForex, especially in terms of cryptocurrencies. Eightcap has over 250 crypto CFDs available, while WorldForex has only 8. Eightcap also has more forex pairs (42 vs 28), index CFDs (10 vs 8), share CFDs (400 vs 220), and commodities CFDs (4 vs 3).
WorldForex does not offer any other types of trading instruments, such as options or ETFs. Eightcap also does not offer these products, but it does provide access to TradingView charts and Capitalise.ai automation tools, which can enhance the trading experience.
Eightcap vs WorldForex Trading Fees Comparison
Eightcap has lower trading fees than WorldForex in general. Eightcap offers two types of accounts: Standard and Raw. The Standard account has no commission but higher spreads, while the Raw account has low spreads from 0.0 pips but a commission of $3.50 per lot per side. The average spread for EUR/USD on the Raw account is 0.1 pips, while on the Standard account it is 1.06 pips.
WorldForex also offers two types of accounts: Classic and Pro. The Classic account has no commission but higher spreads, while the Pro account has low spreads from 0.0 pips but a commission of $6 per lot per side. The average spread for EUR/USD on the Pro account is 0.2 pips, while on the Classic account it is 1.2 pips.
Both brokers charge swap rates for holding positions overnight, which vary depending on the instrument and direction of the trade. Both brokers also charge currency conversion fees if the base currency of the account differs from the currency of the instrument.
Eightcap vs WorldForex Account Types Comparison
Both brokers offer two types of accounts: Standard and Raw for Eightcap, and Classic and Pro for WorldForex. The main difference between them is the commission structure and the spread level, as explained above.
Both brokers have a minimum deposit requirement of $100 for their Standard or Classic accounts, but Eightcap requires $250 for its Raw account, while WorldForex requires $500 for its Pro account.
Both brokers allow scalping, hedging, and algorithmic trading on their platforms. However, Eightcap supports social trading and code-free automation with Capitalise.ai, while WorldForex does not offer these features.
Both brokers have a margin call level of 80% and a stop out level of 50%. However, Eightcap offers higher leverage than WorldForex for most instruments. For example, Eightcap offers up to 500:1 leverage for forex pairs and up to 200:1 leverage for crypto CFDs, while WorldForex offers up to 200:1 leverage for forex pairs and up to 100:1 leverage for crypto CFDs.
Eightcap vs WorldForex Deposit Options Comparison
Both brokers offer a variety of deposit and withdrawal methods, including credit/debit cards, bank transfers, e-wallets, and cryptocurrencies. However, Eightcap has more options than WorldForex, such as POLi, BPAY, China UnionPay, and FasaPay.
Both brokers do not charge any fees for deposits or withdrawals, but third-party fees may apply depending on the method used. Both brokers also process withdrawal requests within one business day, but the actual time may vary depending on the payment provider.
Eightcap vs WorldForex Trading Platforms Comparison
Eightcap offers three trading platforms: MetaTrader 4, MetaTrader 5, and TradingView. MetaTrader 4 and 5 are popular and user-friendly platforms that support advanced charting, technical analysis, automated trading, and custom indicators. TradingView is a web-based platform that provides access to interactive charts, social trading, and market data.
WorldForex offers only one trading platform: MetaTrader 4. It does not offer MetaTrader 5 or TradingView, which limits the functionality and diversity of the trading experience.
Eightcap vs WorldForex Analytical Tools Comparison
Eightcap provides several analytical tools to help traders make informed decisions and improve their performance. These include BK Crypto Crusher, a dashboard that provides trade ideas, entry/exit levels, and market sentiment for crypto CFDs; FlashTrader, a tool that allows traders to place multiple orders with one click; and Capitalise.ai, a tool that enables traders to create, test, and automate trading strategies using natural language.
WorldForex does not offer any analytical tools apart from the ones built into the MetaTrader 4 platform. These include 30 built-in indicators, 24 graphical objects, and nine timeframes for technical analysis; as well as Expert Advisors and custom indicators for automated trading.
Eightcap vs WorldForex. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals, and risk appetite. There is no definitive answer to which forex broker is better or which one you should choose, as different brokers may suit different traders. However, you should also do your own research and due diligence before making a final decision, as different brokers may have different advantages and disadvantages depending on your specific situation and requirements. You should also read the terms and conditions of each broker carefully and understand the risks involved in forex trading.
